One of world's richest men is spending $260M to protect international waters
Michael Bloomberg has pledged US$260 million to fund the first protected areas on the high seas, stepping in with private money just as the U.S. and U.K. scale back ocean and climate spending.
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Bloomberg Philanthropies announced the commitment June 23 at the Earthshot Prize Impact Assembly during London Climate Action Week, that it targets the High Seas Treaty, the agreement that for the first time allows protected zones in international waters, which cover nearly half the planet's surface.Governments have promised to protect 30% of the oceans by 2030. With four years left, about 10% is protected.Bloomberg is worth about $109 billion, according to Forbes, ranking him among the 20 wealthiest people in the world.
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